Park Avenue Securities LLC Acquires 760 Shares of TKO Group Holdings, Inc. (NYSE:TKO)

Park Avenue Securities LLC lifted its holdings in TKO Group Holdings, Inc. (NYSE:TKO) by 11.0% in the first quarter, Holdings Channel reports. The fund owned 7,660 shares of the company’s stock after purchasing an additional 760 shares during the quarter. Park Avenue Securities LLC’s holdings in TKO Group were worth $662,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Covestor Ltd bought a new stake in shares of TKO Group in the 3rd quarter valued at approximately $27,000. International Assets Investment Management LLC purchased a new stake in TKO Group during the 4th quarter valued at $27,000. Baker Avenue Asset Management LP bought a new stake in TKO Group in the third quarter worth $36,000. Blue Trust Inc. purchased a new position in TKO Group during the fourth quarter worth $37,000. Finally, Quent Capital LLC increased its position in TKO Group by 113.7% during the fourth quarter. Quent Capital LLC now owns 673 shares of the company’s stock valued at $55,000 after acquiring an additional 358 shares during the last quarter. Hedge funds and other institutional investors own 89.79% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Vincent K. Mcmahon sold 1,642,970 shares of the firm’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $89.01, for a total value of $146,240,759.70. Following the sale, the insider now directly owns 9,875,129 shares in the company, valued at approximately $878,985,232.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 53.80% of the stock is currently owned by corporate insiders.

TKO Group Price Performance

NYSE TKO opened at $108.09 on Friday. The company has a market cap of $18.41 billion, a PE ratio of -107.02 and a beta of 1.02. The firm’s 50 day moving average price is $103.47 and its 200-day moving average price is $90.80. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.99 and a current ratio of 0.99. TKO Group Holdings, Inc. has a 52-week low of $72.33 and a 52-week high of $111.07.

TKO Group (NYSE:TKO) last announced its earnings results on Wednesday, May 8th. The company reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $1.63. The business had revenue of $629.70 million for the quarter, compared to analysts’ expectations of $609.28 million. TKO Group had a positive return on equity of 4.15% and a negative net margin of 4.14%. Sell-side analysts forecast that TKO Group Holdings, Inc. will post 4.19 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TKO has been the subject of a number of recent analyst reports. Bank of America assumed coverage on shares of TKO Group in a research note on Friday, March 15th. They set a “buy” rating and a $100.00 price target for the company. TD Cowen upgraded TKO Group from a “hold” rating to a “buy” rating and increased their price target for the stock from $92.00 to $127.00 in a report on Wednesday, May 15th. Citigroup raised their price target on TKO Group from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. Jefferies Financial Group increased their target price on TKO Group from $120.00 to $131.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Finally, Roth Mkm boosted their target price on shares of TKO Group from $112.00 to $121.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $113.46.

About TKO Group

TKO Group Holdings, Inc operates as a sports and entertainment company. The company produces and licenses live events, television programs, and long-form and short-form content, reality series, and other filmed entertainment on digital and linear channels and via pay-per-view. It is involved in the merchandising of video games, apparel, equipment, trading cards, memorabilia, digital goods, and toys, as well as sale of travel packages and tickets.